Time to end the Ex-Im Bank on May 9

May 8, 2012, Fairfax, VA—Americans for Limited Government President Bill Wilson issued the following statement urging the House of Representatives to reject the $140 billion re-authorization for the Export Import Bank of the United States on May 9:

“If House Republicans truly oppose corporate welfare, then they should oppose giving another $140 billion to the Ex-Im Bank.

“For House Republicans the vote to authorize $140 billion for the Ex-Im Bank is a moment of truth for the new majority, which has professed to oppose preferential guaranteed loans for bankrupt corporations like Solyndra and Ener1, green energy firms that produced no energy. If that’s true, if Republicans want to actually abandon corporate welfare and instead let market forces determine demand, then opposing reauthorization of the Ex-Im Bank, which lends to foreign corporations, is a natural choice.

“The Ex-Im Bank, a relic of the Great Depression, as constituted today gives foreign companies an unfair competitive advantage over U.S. companies, and therefore serves little purpose in today’s global economy.

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